Skip to comments.EXCLUSIVE: Secret Fed Docs Show Obama Misled Congress, Public During Debt Limit Crises
Posted on 01/31/2016 10:11:50 PM PST by Nachum
Federal Reserve Bank of New York officials secretly conducted real-time exercises during the 2011 and 2013 debt-limit crisis that demonstrated the federal government could function during a temporary shutdown by prioritizing spending, even as Treasury Secretary Jack Lew publicly claimed many times that such efforts were âunworkable,â according to a new report by the House Financial Services Committee obtained by The Daily Caller News Foundation.
The staff report, to be released Tuesday, charges that Lew and other Obama administration officials deliberately misled Congress and the public during the federal budget and debt limit showdowns in both years. The committee will convene a public hearing on the report Feb. 2.
The report also states that the Obama administration crafted actual contingency plans to pay for Social Security and veterans benefits, as well as principal and interest on the national debt if the government was temporarily unable to borrow more money. The Committee concludes that over the last two years the Treasury Department has âobstructedâ congressional efforts to get to the bottom of the administrationâs real-time policy during the two showdowns.
The Constitution stipulates that only Congress can determine how much money the federal government can borrow. Presidents thus cannot unilaterally spend beyond congressional debt ceiling limits set. The committee â chaired by Republican Rep. Jeb Hensarling of Texas â charged that during both confrontations, the Obama administration held the countryâs creditworthiness âhostageâ by claiming default was the only possibility if the debit ceiling was not raised.
(Excerpt) Read more at dailycaller.com ...
The list, Ping
Let me know if you would like to be on or off the ping list
So — Obama lied. What else is new?
And apparently everybody believed Obama or would not challenge him?
What's going to happen ?
Press report it
Anyone going to jail?
So who cares
And for that Obama obstruction and hostage conclusion means what? They’ll fire him? They’ll arrest him?....
These investigations do nothing more than pay people to keep them otherwise occupied on matters which never see the light of day.
I know people who are otherwise sane and intelligent who believed Obama and castigated Cruz for trying to bring some sanity into the process.
This is why there is a face palm gif- saves time having to type WTF— I do not link pics
Talked to Senator Cornyn about the debt limit vote once - like talking to the wall. Asked why, with a Republican majority in the House and Senate. they just didn’t cut expenses to something less than income. He informed me that I obviously didn’t understand how economics worked, thanked me and immediately turned turned his back on me and began speaking with someone else. Asked the same question of Pete Olson, our Representative, and was given the same almost identical answer.
Haven’t voted for either of them in several elections and won’t in the future.
Surprise, surprise, surprise, Odumbo lied to us. Really? (sarc)
Democrats are LAW-Less because Republican “leaders” are BALL-Less!!!
Misled = lying. When ISN'T the bastard lying??? Pretty much everyone on this forum knew the kenyan/indonesian was lying, and that Mitchie and Boehner were bending the GOP over for him.
SO FRIGGIN’ WHAT?
(Yes, I’m yelling.)
And, to quote the rankest, vilest, most dishonest Secretary of State that we’ve EVER had...
“What difference, at this point, does it make?”
A successful Branding campaign by the Obama administration. Low Info voters believe that the Republican Congress has maliciously obstructed Obama’s policies that would help the middle class. Try telling them that Obama was the one that shut down the government.
“Misled” is a euphemism for the linguistically more accurate “lied.”
Let me get this straight. You’re actually saying the esteemed Mr. Barack Hussein Obama, praise Allah, lied?!?
You dared suggest to our rulers they spend LESS than they take in?!
Where did you get your economics degree, SIR? From balancing a checkbook? Oh, wait.... /s
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.